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Listen: "Having a political check on the Federal Reserve is the same as having a political check on any concentration of public power"

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Alex Wong
Automatic TRANSCRIPT This transcript was automatically generated by AudioBurst technologies

It's a wonderful question the put into it oh perspective there Bailey idea that the head of the Central Bank with the regular global but how it and Live early Central Bankers than the eighty eighth and ninth in anyone twentieth and hit the pin and that re but until banking a highly at all none judgment so the skills and functions in the politicians anytime it interview with that up and with it mindset we recognize a central Bank actually done a pretty great the making their matches over the course of many century and the idea with Baumann a political check on the Federal reserve did the same is having a political check on any concentration public power and that is in a democracy with all that that that's is there's no better way and the let the values of the people aren't always them through some of the political process and so well member of that is have him before Rusin in testimony many many decades having this regular the six months the Fed share comes to testify it's something relatively new elite nineteen seventies and so share yellow is coming every six months and alternating money between out some of that up it goes a go route their backs culture that she must no Peter the damage dogs This is my word not yours diploma dogs tell us as often as they can get our attention that there something wrong here that the Federer reserve needs to be audited there's something wrong when must have a lot of its and they they re live closely demo God on this issue what's going on I think to be in close behind beyond its as much much better than the absence of the proposal itself the impulse is this if we recognize that governmental agencies are going to have to exercise extraordinary power over all of the people let's make sure they're not doing it in consistently with weekends I'm public values right the problem the Federal reserve it is heavily insulated from the political process if you're the FDA or the EPA or EST he and you're making policies members of congress don't like every single year we have a budget and the appropriate shoes process speaks to what those agents we'll get them allows for Publico burst to be exercise I look at it not subject to look appropriate Sims but I'm so and though they if the other aspect of that in so it come up with a.